USOIL remains under pressure Technical Perspective
USOIL pared recent gains following a reversal below the descending channel's upper bound and resistance at 6850. If USOIL sustains its bearish momentum, a further drop toward the following support at 6500 may occur. Conversely, a break above the resistance at 6850 could prompt a further rise toward the following resistance at 7000.
Fundamental Perspective
Oil prices declined as the American Petroleum Institute reported a 4.6 million barrel increase in US crude stockpiles, highlighting concerns over growing inventories. This rise in stockpiles pressures oil prices as supply continues to outpace demand. Geopolitical risks also weighed on sentiment, with Russian President Putin rejecting US President Donald Trump's request for a ceasefire in Ukraine, further escalating tensions. Additionally, Trump has ramped up pressure on Iran over regional instability, adding to the volatility in oil markets.
Meanwhile, OPEC and its allies are considering increasing production, which could increase global supply. On the demand side, weak consumption from China and ongoing trade tensions threaten to dampen risk sentiment, potentially weighing further on oil prices in the short term. With these factors combined, oil markets face a challenging outlook, marked by a delicate balance between rising supply and uncertain demand dynamics.
By Li Xing Gan, Financial Markets Strategist Consultant to Exness
USOIL trade ideas
Will Mixed Geopolitical News Limit the Downside of Oil Prices?Macro:
- Oil prices continued their decline following an agreement between the US and Russia to halt attacks on energy infrastructure, though without implementing a complete ceasefire.
- The market turned bearish amid expectations that Russian sanctions may be eased, potentially increasing the oil supply surplus.
- Uncertainty lingered as geopolitical tensions in the Middle East sent mixed signals. While the possibility of increased supply pushed prices down, fears of conflict disrupting oil production kept some upward pressure.
Technical:
- USOIL retested its descending channel's upper bound before rejecting the boundary and forming a bearish Engulfing Candlestick, which may provide a hint that bears are in control. The price is below both EMAs, indicating persistent bearish momentum.
- Breaking below the support at 65.80 may prompt another plunge to the 100% Fibonacci Extension at 64.00.
- Closing above 68.40 and breaking the descending channel's upper bound may shift the current structure sideways before retesting the following resistance at 70.20.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
West Texas Oil Futures Bias for March 17-21
Weekly
I am still bearish long term and expecting the relative lows of low 65 levels to be tested again. Order flows are very bearish.
Daily
With Tuesday candle closing through Monday's low tells me the day will continue lower with big wick rejection of Monday's high aligning with my weekly bias.
I will try my best to update this on the notes below for the week.
I appreciate to hear what you think.
Regards,
Jun
Oil Trade Idea Global Analysis For OIL :-
🔴 Trump:
•Putin and Zelensky want to end the conflict in Ukraine.
•We will work quickly to reach a full ceasefire in Ukraine.
•The peace process in Ukraine is underway, and we hope to complete the mission for the sake of humanity.
• The Peace Process has now entered full implementation
USOIL BREAKOUT FROM THE WEDGE|SHORT|
✅CRUDE OIL is trading in a
Downtrend and the price broke
Out of the bearish wedge pattern
And the breakout is confirmed
Because the 4H candle closed
Way below the wedge's support
So we are bearish biased and
We will be expecting a
Further bearish move down
SHORT🔥
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Fibo Kangaroo Zone sell USOil or WTI Crude OilWTI Crude Oil TF H4
The price is still moving in an uptrend and is currently starting to form a new swing low. You can take advantage of the buy opportunity with the setup:
SL: 65.015556
TP: 70.1388
Disclaimer ON!
Remember to keep setting risk limits and maintaining money management.
Crude oil turns lower on Putin-Trump callBoth oil contracts are now lower on the day, giving up earlier gains. From the day's high, WTI is now 2.8% lower and counting as prices test the day's lows. Oil prices moved lower on hints/hopes of peace from the just-finished Trump & Putin talks. The rationale here is that any peace progress would increase the chances of removing sanctions on Russian oil shipments, increasing global supplies.
WTI has held the trend resistance and old support-now-resistance at $68.45. The inverted daily hammer candle, if completed, would point to more weakness in the days ahead. As such, we could see prices dip down to test waters below recent lows of just north of $65.00 handle - a level last tested back in September 2024. A potential break below that could pave the way for a test of the May 2023 low of $63.60.
By Fawad Razaqzada, market analyst with FOREX.com
Buy directlySupply and Demand Aspect
Supply: In 2025, the expected increment in global crude oil supply has been generally lowered. The production increase in non-OPEC+ countries is limited, and the actual effect of OPEC+'s gradual lifting of production cuts is lower than expected. However, the US shale oil production is on a strong upward trend. The EIA predicts that the total US crude oil production in 2025 will reach 13.61 million barrels per day, making it the largest source of supply growth in the world. If OPEC+ continues to increase production, the IEA predicts that the global crude oil supply surplus in 2025 may expand to 1 million barrels per day. At the same time, the uncertainties in the US sanctions policies against oil-producing countries such as Iran and Venezuela, and the fact that Russia's crude oil exports have climbed to a yearly high of 5.7 million barrels per day further increase the pressure on the supply side.
Demand: The demand side shows a differentiated trend. In March, the IEA lowered the global crude oil demand growth rate in 2025 by 70,000 barrels per day to 1.03 million barrels per day, mainly reflecting the impact of the escalation of trade frictions on the macro economy. On the other hand, OPEC maintains an optimistic forecast of 1.45 million barrels per day, emphasizing the resilience of air travel and consumption in emerging economies. The EIA has raised the demand growth rate to 1.37 million barrels per day and expects the growth rate to further rise to 1.61 million barrels per day in 2026.
USOil
🎁 Buy@66.80 - 66.90
🎁 SL 66.50
🎁 TP 68.80 - 69.00
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Crude Oil Analysis Based on Chart (Double Bottom Breakdown)Technical Overview:
Pattern Formation:
The chart suggests a double bottom breakdown setup. A double bottom is typically a bullish reversal pattern, but if the price breaks below the support (previous lows), it invalidates the bullish expectation and turns into a bearish breakdown scenario.
Breakdown Confirmation:
The neckline (previous low) is crucial in determining whether the pattern will hold or break.
If the price sustains below this support, a downward move is likely to continue.
Target Calculation:
The expected target is derived by measuring the distance between the swing high and the double bottom support, then projecting it downward from the breakdown point.
According to the chart, this calculation aligns with a target near $60.
Volume Analysis:
Increased volume during the breakdown would provide stronger confirmation that the pattern is valid. If volume is low, the breakdown might be a false signal, leading to a potential reversal.
Key Levels to Watch:
Breakdown Level: The double bottom's support level.
Resistance Area: The recent swing high.
Target Zone: Around $59 (measured move projection).
Invalidation Point: A sustained move above the previous resistance zone would invalidate the bearish outlook.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Traders should conduct their own research and consult with a financial professional before making any trading decisions. Market conditions can change, and risk management is essential when implementing any trade strategy.
USOILHello friends
Due to the price falling in the identified support area, buyers were able to support the price, but given the weakness of the trend we are witnessing, it seems that sellers have more power...
Now, for the price to rise, the identified resistance must be broken, and for the price to fall, if the support is broken, the price will continue to fall.
*Trade safely with us*
WTI OIL turned the 4H MA50 into Support and aiming higher.WTI Oil (USOIL) has broken above the bearish trend of the former Lower Highs and a Channel Up emerged. The 4H MA50 (blue trend-line) broke for the first time in almost a month and has now been turned into Support.
As long as this holds, we expect Oil to target the 4H MA200 (orange trend-line) at $70.
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Next Week's Trading Blueprint for USOILThis week, U.S. crude oil closed at $67.18, with a weekly increase of 0.2%. Next week, there is sufficient upward momentum. The United States has tightened sanctions on Iran, and there is a risk of supply contraction. Moreover, the decline in U.S. gasoline inventories far exceeds expectations, indicating strong demand. Technically, if the key resistance level of $69.00 is breached, an upward space will be opened, and the bullish forces are expected to push up the price of U.S. crude oil.
USOIL Trading Strategy for Next Week:
buy@ 65-66.5
tp:69-70
I firmly believe realized profit and a high win - rate are the best measures of trading skill. Daily, I share highly precise trading signals. These include clear entry points, stop - loss levels for risk control, and profit - taking targets from in - depth analysis. Follow me for big financial market returns. Click my profile for a trading guide on trends, strategies, and risk management.
can OIL change its trend?as soon as a bullish divergence appeared on RSI the price sustained as last LL was not broken and we can also see a formation of support level there. Apart from this currently the price is breaking the bearish trendline, I have drawn resistance on the 68.32 level which has been tested a couple of times. If the price breaks this level this would indicate a bullish trend. A buy stop or buy limit order can be placed later would be applicable if price comes back for retest
USOIL at Critical Support – Rebound Toward 73$?TVC:USOIL has reached a major demand zone, an area that has historically acted as strong support. This region has previously triggered sharp rebounds, making it a key level to watch for a potential bullish reaction.
The recent sell-off has pushed the price deep into this zone, and early signs of rejection could indicate that buyers are stepping in. If support holds, we could see a recovery toward $73, aligning with a corrective move.
However, if price fails to hold and breaks decisively below this zone, it would signal continued weakness, opening the door for further downside, possibly targeting the next support area.
Traders should wait for confirmation, such as bullish price action, increased buying volume, or key reversal patterns before committing to long positions.
Oil Short - 11RA good opportunity to short Oil has come up.
There is a bear flag on the 4H timeframe…now potentially forming a retest wedge pattern into the point of interest I have marked out.
This is a 1:11.44 R trade and if held to $60.50 which is where I think Oil is heading to by May, then it is an 80R opportunity- though I do think it best to take most of the profits off at the conservative target market out as it could create continuing forming this bear flag higher up.
Risk to reward rating for target 1: 7/10
Chance of success if it follows path: 7/10
Overall rating 7/10
Risk to reward rating for target 2: 10/10
Chance of success: 3/10
Overall rating: 7/10
Potential bearish drop?USO/USD has reacted off the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 68.43
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 69.26
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
Take profit: 66.46
Why we like it:
There is a pullback support level.
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USOIL Analysis of TodayThe global economic situation has a significant impact on the demand for crude oil.
During periods of economic prosperity, industrial production and transportation activities are frequent, leading to an increase in the demand for crude oil, which in turn drives up the price of USOIL.
For example, during the period of rapid development of emerging economies, the demand for energy was robust. When there is an economic recession, the demand decreases, and the price may drop. Just like after the global financial crisis in 2008, the demand for crude oil plummeted sharply, and the price also crashed accordingly. In terms of supply, the changes in production output of major oil-producing countries are of vital importance.
The adjustment of production capacity and production disruptions in major oil-producing countries such as the United States, Saudi Arabia, and Russia will all affect the global crude oil supply. For instance, the development of the shale oil industry in the United States has significantly increased the country's crude oil production, having a major impact on the global crude oil market supply pattern.
🎁 Buy@66.90 - 67.00
🎁 SL 66.80
🎁 TP 67.15 - 67.20
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USOIL:The latest trading strategyThe price of WTI crude oil futures has risen slightly, and the market is currently in the process of bottom - building.
The price briefly broke through last week's high of $67.94, reaching an intraday high of $68.37 before pulling back. The market remains in a "sell - on - rally" mode.
After the higher opening, there is a probability that the crude oil price will stabilize at a lower level. For the subsequent trading strategy, short - selling is worth considering.
USOIL Trading Strategy:
Sell@67.7-68.3
TP:66-65